Research Article
Rethinking a National Monetary Identity: Does Malaysia Need a Fitter Ringgit Symbol?
@INPROCEEDINGS{10.4108/eai.24-8-2021.2315048, author={Mohammad Aaris Amirza and Mohamed Razeef bin Abdul Razak}, title={Rethinking a National Monetary Identity: Does Malaysia Need a Fitter Ringgit Symbol?}, proceedings={Proceedings of the 2nd International Conference on Design Industries \& Creative Culture, DESIGN DECODED 2021, 24-25 August 2021, Kedah, Malaysia}, publisher={EAI}, proceedings_a={DESIGN-DECODED}, year={2022}, month={3}, keywords={ringgit malaysia currency symbol national identity}, doi={10.4108/eai.24-8-2021.2315048} }- Mohammad Aaris Amirza
Mohamed Razeef bin Abdul Razak
Year: 2022
Rethinking a National Monetary Identity: Does Malaysia Need a Fitter Ringgit Symbol?
DESIGN-DECODED
EAI
DOI: 10.4108/eai.24-8-2021.2315048
Abstract
The currency symbol is one of the essential currency design elements in designing a banknote. For the past decades, countries like India, Turkey and Russia have formed their currency symbols and applied them in their monetary systems instead of using abbreviations. Malaysia nevertheless has yet to create its own currency symbol despite the 29-year-transition from the Malayan dollar sign to RM in its banknotes. Though the RM was officially announced as Malaysia’s currency symbol by the Bank Negara Malaysia (BNM) in 1992, it is debatable that the RM is seen as a symbol. This research is to analyse the key characteristics together with the meanings of a functioning currency symbol and to devise a design model for a currency symbol. These objectives were achieved from primary and secondary data via visual analyses, which resulted in a discovery of characteristics, meanings and establishments of a model to design a fitter currency symbol.